Industry News by Nemesis

BlueRock Unearths 16.28 Carat Diamond at Kareevlei Mine

BlueRock Diamonds has unearthed a 16.28 carat diamond of gem quality from its 74 percent-owned Kareevlei mine in South Africa.

The diamond was 4.58 carats larger than the largest stone previously recovered from Kareevlei.

“The quality of these diamonds is a reminder of why we are so confident about the potential of the Kareevlei mine and the outlook for 2019,” said BlueRock chief executive Adam Waugh.

The latest discovery follows hot on the heels of the company’s recovery of an exceptional 8.97 carat diamond beginning of this month, which marked the third stone independently valued in excess of $50,000 mined from Kareevlei.

The two previous record value stones were a 7.76 carat stone recovered in 2017 and sold for $10,070 per carat and a 10.58 carat stone recovered in 2018 and sold for $7,047 per carat.

The Kareevlei licence area covers 3,000 hectares and hosts five known diamondiferous kimberlite pipes. It was estimated that the remaining Inferred Mineral Resource from the four kimberlite pipes (KV1, KV2, KV3 and KV5) represents a potential in-ground number of 367,000 carats.